MINI Finance Options

Choosing a finance package to suit you

Car financing is a popular way in the UK to buy a new or used MINI. It provides the flexibility of purchasing a vehicle, without having to pay a large lump sum of cash upfront.

At Inchcape MINI we have a great selection of finance options for you to choose from. These include:

• PCP: Personal Contract Purchase
• HP: Hire Purchase
• PCH: Personal Contract Hire
• BCH: Business Contract Hire

All finance applications will be subject to credit checks and affordability assessments carried out by our lenders based on the information you provide us.  Please ensure you can afford to repay any loan you request that we arrange on your behalf.

Inchcape are FCA regulated and act as a broker not a lender, we work with a panel of lenders and we will receive commission for arranging finance on the customer’s behalf. We do not advise or recommend finance products, but will provide information to allow our customers to make an informed choice.

Whether you are a Fleet manager of 50+ cars, or a decision maker for a Small business, we have a Finance package that suits your business.

Our Fleet Managers Finance Explained and Small Business Finance Explained pages help you find the right funding solutions for your fleet.

Contact a member of our Corporate team to find out more about business offers.

Motabilty is a registered charity enabling people to lease a new car by exchanging their Government-funded mobility allowance.

Motablity provides people with a brand new, worry-free car on a 3-year Contract Hire lease.

Included in the MINI Motability package:

A new MINI every 3 years

Insurance from RSA Motabilitly (RSAM)

Breakdown assistance

Find out more about Motability

Personal Contract Purchase for a MINI

PCP plans are designed for people who like to change their vehicle regularly. So it means you could drive a new vehicle every 2-3 years.

How does PCP work:
Personal Contract Purchase is one way to buy a new, nearly new or used vehicle. It combines fixed monthly payments with exceptional flexibility at the end of the agreement. Typically this is available between 18 and 49 months.

At the end of your PCP agreement:
You have total control in deciding which of these choices suits you best.

Return - You have the option to return the vehicle at the end of your agreement. To avoid incurring charges, the vehicle needs to be in good repair and condition (allowing for fair wear and tear) and within the permitted maximum mileage as agreed upfront on an annual basis.

Retain - Buy the vehicle outright by paying the optional final repayment. An option to purchase fee of £10 is also applicable.

Renew - Subject to paying off your existing agreement in full, you can part exchange your vehicle at the end of the term or any time during the agreement. Alternatively the vehicle could be worth less than the optional final repayment leaving you with a shortfall to pay before starting a new agreement. In such instances, you can exercise the RETURN option above and have no further liability (mileage and vehicle condition restrictions apply, as above).

Is PCP the right finance option for you?
A cost effective and flexible way to change your vehicle on a regular basis.

Discover more about how to finance your new vehicle with our Guide to PCP Car Finance.

Hire Purchase for a MINI

HP is one way of buying a new, nearly new or used vehicle. The monthly payments are determined via the amount of deposit initially paid, the period of the contract and the overall price of the vehicle.

How does HP finance work?
A HP option will consist of paying a deposit amount, and you will then pay the remaining balance and interest in equal monthly repayments over the agreed term. This will entitle you to eventual ownership of the vehicle. There are no mileage restrictions.

At the end of your HP agreement:
After you’ve made all the repayments including any interest and option to purchase fee, you will become the owner of the vehicle and are free to keep or dispose of the vehicle as you see fit. Should your circumstances change you are able to settle the agreement either partially or in full, and your finance company will be happy to provide a figure for this at any time.

Is HP the right finance option for you?
If you're a high mileage driver or would like to keep your car for a longer period of time, HP could be an option for you.

Discover more about how to finance your new vehicle with our Guide to HP Car Finance.

Personal Contract Hire for a MINI

PCH is a fixed cost rental agreement, available on selected new vehicles only.

How does PCH finance work?
The amount you pay per month covers the drop in your vehicle's residual value over the length of the lease. An initial rental is needed, this will typically be equal to between 1 to 12 of your monthly rentals, but can also be a lump sum payment.

At the end of the PCH agreement:
A PCH agreement normally runs between 24 - 60 months. Once this comes to an end the customer simply returns the vehicle, subject to condition and mileage.

Is PCH the right option for you?
PCH can be a cost-effective way to keep yourself in a new vehicle. You don't need a big deposit and road tax is covered for the duration of your contract. 

Discover more about how to finance your new vehicle with our Guide to PCH Car Finance.

Business Contract Hire

Business Contract Hire (also known as an Operating Lease) is a cost effective way of securing the use of a vehicle for a pre-agreed period of time with a low up front rental.  Contract Hire, as the name implies, is an agreement to hire the car for a period of time, typically 2, 3, or 4 years with an agreed mileage limit.  Advance rentals can be as little as 1 monthly rental, though are more usually either 3 or 6 months.  There are certain tax advantages for VAT registered businesses which we can explain to you in more detail.

Finance Leasing

A Finance Lease is a tax efficient and flexible way of purchasing a car. As with PCH/Contract Hire this way of funding is more suited to a business customer. The flexibility comes from the ability to choose between two options:

Option 1: You can spread the total cost of the vehicle, which includes interest charges over a certain period leaving no further money to be paid

Option 2: Offset an amount to the end of the term with the result being that you would benefit from lower monthly repayments. The final deferred rental would be based on the anticipated, projected resale value of the vehicle.

In terms of businesses, while the ownership of the vehicle remains with the leasing company for the period of the contract, the vehicle does actually appear on the company's balance sheet. As with Contract Hire a proportion of the rentals paid can be offset against taxable profits.

At the end of the agreement:
The responsibility for selling the vehicle at the end of its contract term lies with the customer. This means that there could be a profit depending upon the amount of finance still outstanding.